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Friday, June 20, 2014

Google's Nest to purchase Dropcam for $555 million -report, (NASDAQ: GOOG)

Google Inc's Nest Labs will purchase home-monitoring camera startup Dropcam for about $555 million in cash, technology blog Re/code reported on Friday, taking another step deeper into consumers' homes.Nest and Dropcam confirmed the acquisition in separate blog posts on Friday, but did not specify the price tag. Google declined to comment.Google is increasingly expanding into new markets, with efforts ranging from high-speed Internet access to advanced research on self-driving cars and robotics.It bought Nest, which makes smart thermostat and smoke alarms, this year for $3.2 billion, the Internet firm's second-largest ever acquisition.

Google Inc. (Google), is a global technology company. Shares of GOOG traded higher by 0.26% or $1.46/share to $556.36. In the past year, the shares have traded as low as $502.80 and as high as $604.83. On average, 2178110 shares of GOOG exchange hands on a given day and today's volume is recorded at 4496962.